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Molecular Diagnostics Market | ABBOTT LABORATORIES, Agilent Technologies Inc., BECTON DICKINSON, BIOMERIEUX SA | By 2032

As per Future Market Insights’ latest industry analysis, as per a recent market analysis by Future Market Insights (FMI), global molecular diagnostics market is anticipated to showcase an opulent growth opportunity over the projection period by exhibiting a CAGR of 18% from 2022 to 2032. At present, the market is valued at around US$ 14802.156 Million in 2022 and is anticipated to reach a high of US$ 59882.97671 Million by the year 2032. According to Future Market Insights’ historical analysis, the global molecular diagnostics market exhibited a CAGR of 15%.

An inevitable surge in the demand for molecular diagnostics has been witnessed over the past few years and the market is expected to accelerate at a steady pace attributed to its heavy usage within the process of manufacturing a wide range of specialty products like advanced polymers, sealants, additives, specialty paints, pigments, coatings, and more.

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A substantial upsurge has been observed in the demand for the molecular diagnostics market in recent years. The global market is expected to progress at a healthy pace attributed to the rising prevalence of infectious diseases and several variants of cancer worldwide. Furthermore, the rising awareness and acceptance of personalized medical doses and increasing biomarker identification are anticipated to help the market development over the assessment period.

Key Takeaways

The demand for molecular diagnostics is anticipated to surge over the forecast period attributing to the increasing adoption of molecular diagnostics in emerging markets, therefore offering lucrative growth opportunities for the molecular diagnostics market.
In addition to that, several factors including increasing demand for reagents, rising adoption of point-of-care testing, and advancement in Research and Development activities in the biotechnology and pharmaceutical industry, are expected to propel the market development over the forecast period.
The global market is further to have a great positive impact owing to the growing number of patients suffering from infectious diseases and lethal cancers among other diseases that require molecular analysis for diagnosis purposes and for early commencement of the treatment.
In addition to that, the advancements in healthcare infrastructure and expansion of new technologies in medicine have helped to cater to the growing patient pool and are predicted to further the market growth of molecular diagnostics.
The molecular diagnostics market is witnessing the emergence of various new market players offering advanced diagnostic solutions with faster, better, and cost-efficient molecular diagnostics. The emergence of such companies is predicted to bolster the progress of the molecular diagnostics market over the forecast period. The strategic measures taken by these companies are predicted to strengthen their foothold and result in market expansion in various untapped regions.

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Competitive Landscape

The prominent market players are proliferating in the forum and concentrating on introducing new products and constantly focusing on improving their product offerings in order to cater to the changing consumer needs efficiently while simultaneously restraining their competitiveness globally.

Keen attention is paid by the key market players to the maintenance and quality of products and innovation. Such prominent market players are also focusing on diversifying their range of manufacturing by indulging in mergers and acquisitions and adopting organic growth strategies for a strong foothold in the global market.

More Insights into the Molecular Diagnostics Market

North America is expected to witness excellent growth over the forecast period attributed to the favorable reimbursement scenario in this region which is expected to fuel growth in the market. Furthermore, the surging healthcare expenditure in the North American region is anticipated to bolster growth in the North American molecular diagnostics market.

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Europe is another market showcasing lucrative growth opportunities in the molecular diagnostics market. The growth is attributed to the rising prevalence of infectious diseases and cancer in the region which is aiding the growth of molecular diagnostics in the European regions.

In addition to that, European regional growth can also be ascribed to the surging use of POC diagnostic tests, and increased awareness of the early diagnosis of diseases in emerging countries is yet another factor to drive the market growth in the region.

Key Segments in The Molecular Diagnostics Market

By Product and Service:

Reagents and Kits
Instruments
Service and Software

By Technology:

Polymerase Chain Reaction (PCR)
Isothermal Nucleic Acid Amplification Technology (INNAT)
DNA Sequencing and Next-Generation Sequencing (NGS)
In Situ Hybridization (ISH)
DNA Microarrays
Others

By Application:

Infectious Disease Diagnostics
Oncology Testing
Genetic Testing
Others

By End User:

Diagnostic Laboratories
Hospitals and Clinics
Others

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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Increased healthcare infrastructure, expansion of domestic companies, and inflating disposable incomes of the populace are some of the factors aiding the market expansion in the region. Furthermore, expanding geriatric population and rising incidences of infectious diseases, and higher adoption of molecular diagnostics in the Asia Pacific region is likely to boost further growth of the market through 2032.

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Multi Component Injection Moulding Technology Market Revenue, Size, Share, Growth, Trends

Multi component injection moulding technology involves combination of different materials to produce high quality of plastic components. Multi component injection moulding technology covers all the processes involving the stages, which more than one plastic components undergo, during their treatment to achieve a particular functionality.

A recent study on the multi component injection moulding technology market by Future Market Insights projects that the industry is slated to exhibit a CAGR of 9% from 2022 to 2032. As per the study, the market is expected to be valued at US$ 3 Billion in 2022, and will eventually reach US$ 7.1 Billion by 2032.

Since the beginning of the 21st century, injection molding has undergone rapid development in the market. A multi-component molding process can involve a wide range of technologies and techniques. Because of its flexibility and ability to produce multifunctional plastic parts, this innovative manufacturing process is gaining popularity among plastic manufacturers.

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This technology is used in many industries, such as packaging, consumer goods, autos, and others to make soft-touch overmoulded products in the market.

Due to the difficult mapping of the boundaries between the substrate and the overmold, it is currently not possible to create computer simulation software for this process, despite the growing popularity among engineers. The conventional injection molding practice uses computer-aided engineering while multicomponent molders still use trial and error.

Global Multi Component Injection Molding Technology Market: Key Players

Few of the key players operating in the global multi component injection moulding technology market are:

Sumitomo (SHI) Demag Plastics Machinery GmbH,
Milacron LLC,
Wittmann Kunststoffgerate Ges.m.b.H,
Haitian International Holdings Ltd., and
Mold Hotrunner Solutions Inc., among others.

Global Multi Component Injection Molding Technology Market: Dynamics

Multi component injection moulding technology is used for manufacturing articles made with different materials. Multi component injection moulding technology has witnessed rapid development in recent years and so growth rate of traditional moulding came to a pause. These rapid developments include new variants of processes, plastics and material combinations which have been added for new applications in various fields.

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The technology is evolving in new directions and its technical developments include machines with four to six barrels, thermoplastic/thermosets combinations, combinations of materials with gas or water assists and many more. Since many multi shots or co injections presses are customized, moving to multi component can be expensive.

However, the versatility it provides compensates the high cost. Multi component injection moulding technology is used to produce a finished portion in the mould without using a downstream equipment which is expensive to use, buy and maintain.

Global Multi Component Injection Molding Technology Market: Segmentation

On the basis of moulding type, multi component injection moulding technology market has been segmented as:

Multi material injection moulding
Multi-colour injection moulding

On the basis of technology type, multi component injection moulding technology market has been segmented as:

Two-shot moulding
Co-injection moulding
Hard-soft combinations of thermoplastics

On the basis of end use, multi component injection moulding technology market has been segmented as:

Automobile industry
Medical Industry
Electronics and Communication Industry
Sports Industry

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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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Cigarette Filters Market Size and Growth Report Analysis by Share, Trends, Drivers and Forecast to 2028

Cigarette filter reduces harshness of tobacco smoke by reducing the amount tar, smoke and other fine particles during combustion of the tobacco portion. The filter is primarily made of cellulose acetate fibres known as tow. The fibres are bonded together with a hardening agent, tri-acetin plasticizer, which helps the filter to keep its shape.

The filter is wrapped in paper and sealed with a line of adhesive. Cigarette filters vary in efficiency depending upon whether the cigarette is light or no. The tightly packed cellulose acetate fibers in the cigarette filters often look like cotton.

Cigarette filters when cut lengthwise reveal around more than 12,000 white cellulose acetate fibers. Cigarette filters do not block all the bad chemicals from entering the lungs, filtered smoke is felt on the throat making it easier to take bigger and deeper puffs. According to a study published in the Journal of the National Cancer Institute states that the modern cigarette filters are expected to increase the risk of lung cancer.

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Global Cigarette Filters Market: Key Manufacturers

Essentra
Nemuno Banga LLC
ARD Filters
Shenzen Buddy Technology Development Co., Ltd.
TarGard

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Developments

Lithuania-based company Nemuno Banga LLC manufactures a broad range of cigarette filters with creative hollow tube segments that come in various shapes including hearts, triangles or stars. The company also produces specialty cigarette filters with embedded flavor capsules.
In United Arab Emirates, the trend for slim cigarettes is currently on rise. People now prefer slim, super slim and nano format cigarettes. Nano cigarette filters are the most popular in the Middle East market.

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Global Cigarette Filters Market: Dynamics

Cigarettes with charcoal (activated carbon) filters are very popular in some countries such as Japan, South Korea, Venezuela, Hungary, Romania and Russia, as they reduce the vapor phase smoke toxicants. The growth of the tobacco industry is expected to drive the growth of the cigarette filters market during the forecast period.

Over the next few years the capacities of non-filter cigarette would gradually convert to filter cigarette capacities which would further boost the demand for cigarette filters. The number of cigarettes manufactured per filter rod is typically 5.5 based on ITC data and this is metric is used to arrive at the number of cigarette filters market in the next five years.

The ventilation present in the cigarette filters reduces the amount of tar in the cigarette when tested in a smoking machine, but the increased ventilation and slower burning rate of the cigarette results in more puffs per cigarette.

Cigarette filters are a threat to the smoker’s body, but pose a bigger threat to the environment. Cigarette filter is the single large component of ocean trash. Cigarette filter manufacturers and cigarette companies inseparably depend on each other.

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Global Cigarette Filters Market: Segmentation

Global cigarette filters market is segmented on the basis of filter type into:

Regular Filters
Specialty Filters

Global cigarette filters market is segmented on the basis of material into:

Cellulose Fibers
Plastic

Global cigarette filters market is segmented on the basis of application into:

Standard Cigarette
E-Cigarette

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MET-PET Cartons Market: Market Players Leveraging on Growth Opportunities 2028

To prevent contamination of various products, leading manufacturers in the packaging industry is focusing on leveraging advanced technology solutions. Manufacturers are focusing on utilizing metalized coating on PET carton to protect it from the harmful substance in the container and stave off the adulteration of product.

Bound to features such as heat resistance, durability, and UV resistance, demand for MET-PET cartons is expected to remain concentrated in healthcare, food & beverage, pharmaceutical, and others industries. Many manufacturers prefer opting for MET-PET cartons as they are easy to handle, safely disposable, and recyclable.

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Global, MET-PET Cartons market: Key Player

Amcor Limited
Silgan Holdings Inc.
Gerresheimer AG
PET Power Holding BV
Tetra Laval
Plastipak
CKS Packaging, Inc.
Alpha Group
Himalayan Group
ExoPackaging
Greiner Packaging GmbH

The report is compiled using secondary research, Surveys, Focus Groups, Paid interview with industry analyst and verified information using many sources. The report provides In-depth analysis of a Key market player, current market analysis, Parent market trends and future trends. The report is the qualitative analysis of MET-PET carton market and gives the information about the whole market value of MET-PET cartons.

MET-PET Cartons: Dynamics

The global packaging industry has undergone rapid transformation in the past few years, due to changing consumer preferences. One of the key challenges for a new product is to stand out among other rest. MET-PET films impart a luxury appearance to packages and go a long way in enhancing the consumer appeal of the package. Low price, durability and protective packaging features of these cartons is expected to drive the growth of the global MET PET cartons market during the forecast period. Several industries prefer MET-PET cartons due to this property.

In addition, moisture tolerance features of the MET PET cartons have encouraged demand significantly among the manufacturer and consumer and has allowed them to maintain the quality of various products. The excellent printability offered by MET-PET films helps manufacurers and brands differentiate products and promote brand value.

High quality lamination on MET-PET cartons is another key trend in the market these days. The appealing finishing helps influences consumer preferences. Demand for MET PET cartons is expected remain high in the beverage industry as it helps in increasing the shelf life.

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Regional analysis includes

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

MET-PET Cartons: Segmentation

Globally, the MET-PET cartons are segmented as –

On the basis of its material, the MET-PET cartons market has been segmented as-

Aluminum foil
PET

On the basis of its application, as the global MET-PET cartons market has been segmented as-

Food & beverages
Milk
Yogurt
Cereal Packs
Others
Healthcare
Pharmaceutical
Personal care & cosmetics
Others

On the basis of its finishing, MET-PET cartons are segmented as –

Plain
Printed

On the basis of Region, MET-PET cartons are divided into seven region as –

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan
Middle East & Africa
Japan

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Biodegradable water bottles Market 2022 Key Factors and Emerging Opportunities with Current Trends Analysis 2028

According to the estimates, more than 8 million tonnes of plastic litter is dumped into the ocean every year, damaging aquatic life. One of the worst culprits of single-use plastic is plastic water bottles that are discarded as soon as the drink is finished. These plastic water bottles take between 400 to 1000 years to degrade.

Introduction of biodegradable water bottles is a significant step towards curbing the pollution caused by plastic. Biodegradable water bottles are made from organic materials such as algae, bamboo, husks, bulrush, recycled paper, sugarcane pulp and biodegradable plastic bottles are made from PLA (polylactic acid), PHA (polyhydroxyalkanoates), and biodegradable PET. Biodegradable water bottles are an ideal choice as they decompose within 80 days. Biodegradable water bottles do not leave behind any micro-particles or leach heavy metals in the environment.

These bottles are made from sustainable materials and do not use fossil fuel for its production. Biodegradable water bottles are considered a significant breakthrough in combating the trash problem that is plaguing the oceans. Biodegradable water bottles market is expected to increase as many companies will adopt an environmentally friendly packaging solution for storage and transport of water.

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Biodegradable water bottles market: Dynamics

Half of all the plastic water bottles are used only once, and these bottles require three times the amount of water to produce a plastic bottle than it does to fill one. Biodegradable water bottles are an alternative measure against the traditional plastic bottles that are causing considerable damage to the environment. Biodegradable water bottles can degrade anywhere, be it on land or ocean.

The growing environment protection awareness among people will help the biodegradable water bottles market to flourish. The global biodegradable market accounts for a share of less than 1% of the plastics market, but with an increase in R&D adopted by market players, the market is expected to grow steadily. Eco-friendly and cost-effective nature of the biodegradable water bottles drives the biodegradable water bottles market positively.

The urgent need to replace the amount of unreal plastic that is produced, used and thrown away will help in the significant growth of biodegradable water bottles market shortly. Biodegradable water bottles made from algae are purely vegan and edible. These bottles made from organic sources can withstand high levels of water exposure and are shatterproof. Soon other food grade companies are expected to adopt biodegradable bottle packaging solutions for items like juice, milk and other household products.

Biodegradable water bottles market: Key players

Paper water bottle
Ch2oose
Anhui Idea Technology Ltd.
Taizhou merry port Plastic Products Co. Ltd.
Lyspackaging
Vegan bottle
Mitsubishi Plastics
Biopac Co.
Raepack Ltd

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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Regional analysis includes

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

Biodegradable water bottles market: Segmentation

Biodegradable water bottles market is segmented by the material

Organic material
Paper
Sugarcane pulp
Bamboo
Algae (Agar powder)
Biodegradable plastic
Plant-based PET (polyethylene terephthalate)
PHA (polyhydroxyalkanoates)
PLA (poly-lactic acid)
Cellulose-based plastics
Poly-butylene succinate

Biodegradable water bottles market is segmented by capacity

15 ml – 100 ml (small)
100ml – 500ml (medium)
500ml -1000 ml (large)
Others

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Blunt Wraps Market SWOT Analysis, Top Key Players, Ongoing Trends And Forecast To 2027

Cigarette smoking is increasing day by day. With the changing styles and consumption of cigars and cigarettes, the way of smoking also changes. Today, blunt wraps are used for smoking purpose and it revolutionized the smoking market. The word “blunt” refers to the thickness and rough edge of the wraps which are used in cigars. Blunt wraps are thick sheets used to roll tobacco leaf or dried leaves of marijuana.

Blunt wraps have become popular during the recent years as, various brands are providing flavoured wraps. Blunt wraps are available in various flavours, right from chocolate, vanilla, and strawberry to blueberry and mojito. They are available in various thicknesses.

Various tobacco manufacturers are also engaged in production of blunt wraps in the market as per the changing scenario. The blunt wraps market is growing with with increasing number of smokers across the globe. Due to these factors, the outlook for global blunt wraps market seems to be positive during the forecast period.

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Global blunt wraps market

Key Players

Few of the key players in global blunt wraps market are –

Marijuana Packaging,
Slimjim Online,
BnB Enterprise,
Smokers heaven,
Durfort Holdings S.A., among others.

Global blunt wraps market: Dynamics

Global blunt wraps market is anticipated to witness positive growth on the backdrop of growing number of active smokers all across the globe. Blunt wraps provide new way of smoking tobacco and marijuana leaves. People can fill tobacco or marijuana as per their requirement, this factor is expected to fuel the global blunt wraps market during the forecast period. Manufacturers are producing blunt wraps in various flavours such as kiwi, strawberry, mojito, vanilla, chocolate and among others.

This increases consumer preference to opt for blunt wraps instead of cigarettes or cigars. This factor is expected to drive global blunt wraps market growth during the next decade. Blunt wraps are easily available in the market, even at convenience stores or online stores. It is used as an accessories for cigar and cigarillos.

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One of the factor which might hamper the growth of blunt wraps market during the forecast period is that health issues occur due to smoking, which leads to some fatal diseases such as cancer, tuberculosis and various others. Ban imposed by several government agencies in various countries against the use of tobacco and marijuana is expected to hinder the overall growth of blunt wraps market during the next decade.

One of the factors which hampers the blunt wraps market growth is increasing awareness among people regarding harmful effects of smoking.

The global demand for blunt wraps is expected to witness growth during the forecast period, due to growing preference for smoking among people. North American region is expected to witness positive growth in blunt wraps market during the forecast period due to increment in the number of users. APEJ region is expected to witness high growth in global blunt wraps market over the forecast period as the region has high number of people who engaged in smoking.

Global blunt wraps market: Segmentation

On the basis of flavouring, the global blunt wraps market has been segmented as:

Flavoured blunt wraps
Unflavoured blunt wraps

On the basis of application, the global blunt wraps market has been segmented as:

Tobacco
Recreational marijuana

On the basis of retail channels, the global blunt wraps market has been segmented as:

Online
Offline

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Disposable Insulin-Delivery Device Market to expand at a 7.7% value CAGR by 2032 | FMI

The global Disposable Insulin-Delivery Device Market is expected to be worth US$ 14.59 Bn in 2022, rising at a 7.7% CAGR to reach US$ 32.89 Bn by 2032. The rise in diabetes-related health spending in emerging nations is due to the expansion.

As per the International Diabetes Federation (IDF), one-tenth of the total population affected by diabetes has Type 1. Moreover, out of these, 10% do not use insulin delivery devices. This factor is bound to offer lucrative opportunities for the growth of the disposable insulin-delivery device market in the forecast period.

Out of syringes, pumps, pens, and jet injectors, pens hold the largest market share. They, in fact, account for more than 36% of the overall revenue. This could be reasoned with factors like higher rate of adoption and comprehendible design. On these grounds, NovoPen has been dominating the market. It has memory function as well.

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With disposable insulin-delivery devices, home care has turned out to be a dominant end-user. It holds more than 45% of the market share. This could be credited to the fact that home care saves on hospital fees. The portability on their part is there to add. Future Market Insights, with its team of analysts and consultants, walked through the nitty-gritties of disposable insulin-delivery device market along with insights in its latest market study entitled ‘Disposable Insulin-Delivery Device Market’. Both – micros and macros have been worked upon over here.

Key Takeaways from Disposable Insulin-Delivery Device Market

North America holds ~33% of the market share. This could be attributed to increasing incidences of diabetes, feasible government initiatives, and presence of various disposable insulin delivery device manufacturers. As per the CDC, there are more than 37 Mn people affected with diabetes all across the US.
Europe holds ~29% of the market share with increase in healthcare infrastructure in several parts of Europe. As of the year 2019, there are more than 32 Mn adults diagnosed with diabetes in the EU.
Coming to the Asia-Pacific, growing awareness about diabetes is one of the key factors driving the disposable insulin-delivery device market and the status quo is expected to remain the same even going forward.

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Competitive Landscape

Abbott, in February 2022, did announce collaboration with Fitterfly, Healthifyme, Zyla Health, 1MG, GOQii, PharmEasy, Sugar.fit, and BeatO as a step toward holistic diabetes management care. Abbott, with the help of the collaborations, offers glucose monitoring solutions to almost 8 Mn diabetic patients, 6.5 Mn users out of which could access through 1MG and PharmEasy.
Insulet Corp., in January 2022, announced that the US FDA approved the new-fangled Omnipod 5 system, thereby marking its entry into the universe of AID (automated insulin delivery).
Novo Nordisk, in March 2022, announced launching of two smart connected insulin pens called ‘NovoPen Echo Plus’ and ‘NovoPen 6’, which are being made available for patients getting treated with Novo Nordisk insulin in the UK, but on prescription.
Sanofi, in November 2021, entered into partnership with Roche for increasing adoption of the disposable insulin pens. Local players are also being approached for improving the market reach.

“A large chunk of population is contracting diabetes, which asks for disposable insulin-delivery devices”, thereby accelerating the market for the same”, says an analyst from Future Market Insights.

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What does the Report have at its discretion?

Future Market Insights offers an exclusive perspective and various real-time insights on the disposable insulin-delivery device market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
The research study is based on product type (disposable insulin-delivery pumps, disposable insulin-delivery patches, disposable insulin-delivery pens, and disposable insulin-delivery syringes), by disease indication (type I diabetes and type II diabetes), and by distribution channel (hospital pharmacies, retail pharmacies, online sales, and diabetes clinics).
With increase in the number of diabetic patients in wake of obesity, aging, and sedentary lifestyles, the global disposable insulin-delivery device market is all set to create ripples in the healthcare vertical in the years to come.

Key Segments Profiled in the Disposable Insulin-Delivery Device Market

Disposable Insulin-Delivery Device Market by Product Type:

Pumps
Patches
Pens
Syringes

Device Market by Disease Indication:

Devices for Type I Diabetes
Devices for Type II Diabetes

Device Market by Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Sales
Diabetes Clinics

Device Market by Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Key Companies Profiled:

Animas Corporation
F. Hoffmann-La Roche AG
Insulet Corporation
Medtronic Plc.
Valeritas, Inc.,
Tandem Diabetes Care, Inc.
Johnson & Johnson
Beta Bionics Inc.
Abbott Laboratories
Becton Dickinson & Co.
EyeSense GmbH

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Specialty Oils Market is reaching US$ 175.70 Bn at a gracious rate of 3.4% by the year 2032

The global specialty oils market is anticipated to grow from US$ 125,369.2 Mn in 2022 to US$ 175,703.8 Mn by the end of 2032, accelerating at a CAGR of 3.4% throughout the forecast period (2022-2032).

Rising demand for specialty oils across various end-use industries such as automotive, power generation, pharmaceutical, food & beverages, manufacturing, transmission & distribution, etc. is providing impetus to the growth of specialty oils market.

In recent years, rising electricity consumption has created enormous demand for transformer oil and the trend is likely to continue during the forecast period. This transformer oil is used to protect high-voltage electrical components used in electric utilities, including transformers, capacitors, switches, and circuit breakers. Due to its strong dielectric strength, viscosity, temperature adaptability, and other benefits, it is significantly employed as insulation between transformer windings and other parts.

The market of specialty oils has been substantially influenced by the rapid installation of power generation plants, power transmission, and distribution activities. According to World Energy and Climate Statistics – Yearbook 2022, global electricity consumption grew by 5.5% in 2021, which is 4.8% above its 2019 level.

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Thus, rising government investments and initiatives to develop and expand energy infrastructure across the world will push the demand for specialty oils like transformer oil during the forecast period.

Rapid installation of energy transmission and distribution facilities in developing countries is also anticipated to promote the sales of transformer oil which in turn will spur the growth of specialty oils market.

Similarly, growing usage of specialty oils across automotive and food & beverage will expand the global specialty oils market size during the forthcoming decade.

“Rapid growth of power generation and transmission infrastructure across the globe is expected to boost the demand for specialty oils over the coming decade,” says an FMI analyst.

Key Takeaways from Specialty Oils Market Report:

By product type, transformer oil segment is expected to account for about 9% of the overall market size.
By end-use industry, automotive, and power transmission segments are expected to collectively account for more than 48% of the overall consumption.
The U.S. will continue to remain one of the most lucrative markets for specialty oils during the forecast period.
India’s specialty oils market size is expected to reach around US$ 10,811.6 Mn by the end of 2032.
Specialty oils market in China is likely to grow at a CAGR of 3.7% during the forecast period,

Competitive Landscape

Leading specialty oil manufacturers include PaCalumet Specialty Products Partners, L.P., CASTROL LIMITED, Chevron Corporation, Exxon Mobil Corporation, H&R GmbH & Co. KGaA, Eni SpA, and others.

These key players are continuously adopting various strategies such as new product launches, mergers, acquisitions, collaborations, mergers, etc. to gain an upper hand in the global specialty oils market

For instance,

In July 2022, the Petroleum Nasional Berhad (PETRONAS) announced a strategic lubricant partnership with Tata Motors to supply lubricants for Tata Motor’s commercial fleet.
In July 2021, SKF and Quaker Houghton entered into a new collaboration to offer industrial customers a fully circular use of industrial oil.

More Insights into the Specialty oils Market Report

In its latest report, Future Market Insights offers an unbiased analysis of the global specialty oils market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type, end-use industry, and region.

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Specialty Oils Market Segmentation

By Product Type:

White Oil
Automotive Oil
Transformer Oil
Industrial Oil
Liquid Paraffin
Rubber Process Oil
Petroleum Jelly

By End-Use Industry:

Automotive
Power Generation
Pharmaceutical
Personal Care & Cosmetics
Food & Beverages
Manufacturing
Heavy Engineering Equipment
Transmission & Distribution
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

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Zipper Pouch Market Demand, Scope and Future Estimation until 2031

Zipper pouches will emerge as top-selling packaging solutions in the packaged food industry in the coming decade. In its latest study Future Market Insights (FMI) predicts sales to expand at a CAGR of 5.3% between 2021 and 2031. The overall valuation of the market is projected to surpass US$ 2.1 Bn by the end of 2021.

Disruptions in the supply chain following the outbreak of the coronavirus and consequent restrictions on movement and transport have negatively impacted sales. However, recovery is likely through 2021 and beyond. Expansion of the packaged food industry and the ever-growing demand for fresh produce will offer ample growth opportunities to manufacturers in upcoming years.

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Zipper pouches are accepted worldwide because they are both re-sealable and re-usable. These products also offer strong barriers to external atmosphere and temperature fluctuations. Applications of zipper pouches in the pharmaceutical, cosmetics, and personal care industries are gaining traction.

Marketers and retailers are able leverage zipper pouches to fulfil demand for packaging aesthetics. Also, consumer convenience through clear packaging attributes is likely to fuel demand for the foreseeable future.

In recent years, manufacturing giants have shifted their focus on the use of recyclable raw materials such as polyethylene (PE), polyvinyl chloride (PVC) and polypropylene (PP). Improvements in machinery have enabled large scale production with minimal waste.

Largely, the zipper pouch market is projected to grow supported by the usage of sustainable materials and green practices by producers and end-use industries.

Key Takeaways from the Zipper Pouch Market Study

Stand up zipper pouches account for more than 79% market value, owing to relative ease of use.
In North America, the U.S. holds a market share of almost 89% in 2021, driven by a matured packaged food sector.
The zipper pouch market in Germany is anticipated to exhibit a growth rate of 5% supported by the large-scale manufacturing sector of the country.
India is a fast-growing market in APEJ, driven by a large consumer base and changing consumer food and beverage consumption trends.
Zipper pouches are most widely used packaging various types of food products, as it holds almost 76% of market share in the year 2021.

“Expansion of the global zipper pouch market is largely driven by a surge in demand for packaged foods. The need to preserve food items and offer protection against harsh atmospheric conditions have aided developments in the industry. Most manufacturers are focusing eco-friendly raw materials and sustainable practices for producing making zipper pouches” says the FMI analyst.

Shifting Consumer Preference Towards Resealable Packaging Drives Demand

The trend of stand-up pouches is driven by consumer preference for lightweight, portable, and resealable products. Companies are focusing on developing reusable, recyclable, and durable pouches.

These stand-up pouches are specially made with polyethylene terephthalate, polyethylene or Ethylene Vinyl Alcohol (EVOH) with integrated zippers and are also available in partially transparent variables.

The product is lightweight, recyclable and is mainly used for packaging dry and frozen food. This shift in packaging trends is resulting in a surge in adoption of zipper pouches with significant demand arising from household applications.

Zipper Pouch Market by Category

By Product Type:

Stand Up Zipper Pouch
Flat Zipper Pouch

By Material Type:

Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
Aluminum Laminates
Paper
Others

By Closure Type:

Slider Zip
Press to Close

By End Use:

Food
- Fruits & Vegetables
- Meat, Poultry & Sea Food
- Bakery & Confectionery
- Ready-to-eat food
- Dairy Products
- Cereals
- Pet Food
Pharmaceuticals
Cosmetics & Personal Care

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Zipper Pouch Market Landscape

Key players contribute 20-30% of the global market. Market leaders are largely engaged in strategies to expand production capacity while investing in material innovations to improve on packaging barrier properties.

Berry Global Group, Amcor plc and Rengo Co. Ltd., Transcontinental Inc., C.I. Takiron Corporation and Novolex Holdings, LLC are some of the leading players in the zipper pouch market

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Carbon Fiber Composites Market Worth US$ 37.8 Billion by 2032 | Future Market Insights

The global carbon fibre composites market is anticipated at US$ 18.6 Billion in 2021. Due to the increasing adoption of carbon fiber composite materials in aerospace and automotive sectors, owing to several advantages are provided by these materials, thereby, garnering US$ 37.8 Billion in 2032, recording a CAGR of 6.5% from 2022-2032. The market is likely to secure US$ 19.81 Billion in 2022.

Continuous breakthroughs in advanced carbon fibre composites, such as Carbon Fiber Reinforced Thermoplastic (CFRTP), as well as their vastly increased use in high-volume vehicles, will propel industry growth. Carbon fibre composites’ unique characteristics, such as extreme strength, lightweight, corrosion resistance, equitable chemical reactivity, X-ray transparency, thermal conductivity, and low coefficient of thermal expansion, have elevated their relevance in heavy-duty applications.

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A matrix material is utilized in a wide range of industries to provide adequate physical, thermal, mechanical, and electrical properties. Notably, favourable regulatory norms to lessen vehicular emissions are expected to aid the growth of the carbon fibre composites market during the analysis period.

Key Takeaways from the Market Study

By matrix material, polymer-based carbon fibres are forecast to garner US$ 21 Billion by 2032
Metal matrix carbon fibre composites sales are expected to flourish at a 6.5% CAGR
North America to contribute significantly to market growth, growing at an 8% CAGR
Europe to be a significant market player, anticipated to register a 7.7% growth rate
A CAGR worth 4.7% is projected for the Asia Pacific carbon fibre composites market
Aerospace to account for nearly 61% of total carbon fiber composites revenue in 2022
Applications in the automotive industry are expected to rise at a 6.4% CAGR

“To achieve the modifying demands of consumers, manufacturers are making significant investments in the carbon fibre composites. Heavy investments aid in the technological development and offer a wide range of benefits, which is estimated to positively impact the market in the forecast period.”

Competitive Landscape

Key players in the global carbon fibre composites market include Toray+Zoltek, SGL, Toho, MRC, Hexcel, Rock West Composites, Solvay, and Hengshen, among others. Recent key developments among players are:

Solvay and SGL Carbon signed a joint development agreement (JDA) in December 2019 to bring to market the first composite materials based on large-tow intermediate modulus (IM) carbon fibre. These materials clarify the need to reduce prices and CO2 emissions while also improving the manufacturing process and fuel efficiency of next-generation commercial aircraft.
Teijin Limited acquired Renegade Materials Corporation in February 2019, a North American supplier of highly heat-resistant thermoset prepreg for the aerospace industry. This contributed to the company’s position as the largest provider of solutions for aerospace applications.
Hexcel launched a new product line in May 2022 that encompasses Hexcel resin systems with bio-derived resin content with natural fiber reinforcements to construct material solutions for Automotive, Winter Sports, Marine, and Wind Energy applications.

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Key Segments Covered In The Carbon Fiber Composites Industry Survey

Carbon Fiber Composites Market by End Use:

Carbon Fiber Composites for Aerospace
Carbon Fiber Composites for Automotive
Carbon Fiber Composites for Wind Turbines
Carbon Fiber Composites for Sports & Leisure
Carbon Fiber Composites for Civil Engineering
Carbon Fiber Composites for Marine Applications
Carbon Fiber Composites for Other End Uses

Carbon Fiber Composites Market by Matrix Material:

Polymer Matrix Carbon Fiber Composites
Carbon Matrix Fiber Composites
Ceramics Matrix Carbon Fiber Composites
Metal Matrix Carbon Fiber Composites
Hybrid Matrix Carbon Fiber Composites

Carbon Fiber Composites by Region:

North America Carbon Fiber Composites Market
Europe Carbon Fiber Composites Market
Asia Pacific Carbon Fiber Composites Market
Middle East & Africa Carbon Fiber Composites Market
Latin America Carbon Fiber Composites Market

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More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global carbon fiber composites market presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis by End-Use (Aerospace, Automotive, Wind Turbines, Sport & Leisure, Civil Engineering, Marine), and Matrix Material (Polymer [Thermosetting, Thermoplastics], Carbon, Ceramic, Metal, Hybrid) & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America).

About the Chemicals & Materials Division at Future Market Insights

The chemicals & materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

Have a Look at Related Research Reports of Chemicals & Materials

Asia Pacific Bio Composites Market: According to FMI, the Asia-Pacific Bio Composites market is estimated to be valued at US$ 8,603.5 Mn in 2022 and is projected to increase at a CAGR of 13.4% in the forecast period.

Glass Fiber Reinforced Plastic (GFRP) Composites Market: The glass fiber reinforced plastic market is growing continuously and is predicted to increase at a moderate CAGR of 6.6% during 2022-2032.

Recycled Carbon Fiber Market: According to the latest research published by Future Market Insights, global recycled carbon fiber demand is anticipated to hold ~2-5% of the market share in the overall carbon fiber consumption.

About Future Market Insights (FMI)

Contact:

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